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Specialist UK Mortgages...
95% LTV mortgage availability doubles in a year
The number of mortgage products offering maximum loan-to-values of 95% has more than doubled over the past year, from just 27 to 61 today.
Deals with a maximum LTV of 90% have also increased to 316 today compared to 228 this time last year, an increase of 43%.
Date |
Deals with 95% LTV |
Deals with 90% LTV |
Today |
61 |
316 |
April 2011 |
27 |
228 |
April 2010 |
13 |
140 |
Source: Moneyfacts.co.uk 16.4.12 |
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Combined with an increase in product volumes, average rates for high LTV deals have reduced.
Date |
Average 2 year fixed 95% LTV rate |
Average 2 year fixed 90% LTV rate |
Today |
5.52% |
5.45% |
April 2011 |
6.49% |
6.05% |
April 2010 |
No 2 year fixed deals at 95% LTV |
6.48% |
Source: Moneyfacts.co.uk 16.4.12 |
||
Louise Holmes, spokesperson at Moneyfacts.co.uk commented: “Over the past couple of years we have seen the high LTV mortgage market stage something of a comeback, mainly due to high demand from borrowers with limited deposits.
“The first-time buyer market is often considered to be the life-blood of the housing market and mortgage lenders recognise this. Risk is still a major factor, however, and the majority of mortgages with high LTVs require the financial backing from a third party, such as a guarantor, as well as strict credit checks and lending criteria.
“These latest figures will be good news and a welcome relief to many borrowers who have struggled to find suitable mortgage deals within their financial capabilities.”
Moneyfacts Group
Moneyfacts is the UK’s leading independent provider of personal financial information and our data is used and trusted throughout the financial industry.
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